信息不对称和信托产品交易机制设计

Asymmetric Information & Trust Products Trading Mechanism

用信息经济学的相关理论揭示了导致我国现阶段信托产品出现流通困境的根本原因;分析了建立信托产品交易平台需要思考和解决的问题;指出实践中信托公司不论是利用网络信息交易平台还是建立做市商机制都缺少防范合谋的机制,无法有效地解决信托产品交易中的信息不对称问题。通过对具有相同交易者类型的产权交易所进行的完善机制设计,能够降低信托产品交易中存在的信息不对称,是信托产品交易的适应性选择。

We disclosed the factor which brought trust products trading problems to be more rock-ribbed. By reviewing two trading mechanisms developed by trust companies, we indicated that neither of them could deal with asymmetric information which would cause ＂adverse selection＂ and ＂moral hazard＂ in trust products trading ~ Based on the above analysis,we suggested a new way to solve the problem.